China’s annual shale gas production surges by more than five times

Shale-gas production in China, holding the world’s biggest shale reserves, surged by more than five times last year to 200 million cubic meters, according to the Land and Resources Ministry.

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By JING YANG

Bloomberg

Shale-gas production in China, holding the worlds
biggest shale reserves, surged by more than five times last
year to 200 million cubic meters, according to the Land and
Resources Ministry.

PetroChina Co.s Changning-Weiyuan and Fushun-Yongchuan
areas, along with the Fuling block operated by China Petrochemical Corp., known as
Sinopec Group, have built new production capacity of 600
million cubic meters, the ministry said in a statement on its
website on Wednesday.

Output was about 30 million cubic meters in 2012, according
to Bao Shujing, a director at the ministrys geological
research bureau.

Chinas government has pledged to spur the shale
industrys development and meet rising gas demand by
prioritizing land approvals, allowing tax-free imports of
equipment and offering subsidies to explorers. The country is
pumping more than 2 million cubic meters a day of shale gas,
the National Energy Administration said.

Oil and natural gas output hit record highs last year,
according to the ministry. Production of crude rose 1.8% to
210 million metric tons while conventional gas increased 9.8%
to 117.7 billion cubic meters.

PetroChina and Sinopecs output may determine if China
will reach its 2015 shale-gas production target of 6.5
billion cubic meters, said Gordon Kwan, the regional head of
oil and gas research at Nomura Holdings in Hong Kong.

Long term, we believe the government must raise
domestic selling prices for natural gas and increase
shale-gas subsidies further to motivate producers, he
said.

That target may be hard to reach as development has been
slow, Zhang Yousheng, a researcher with the National
Development and Reform Commission, said on Oct. 16.

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what will be the future scenarios of global supplies and demand vs. price index and operating cost accordingly?seeking to locate an article of long term expectations of such nature in depth.

Carlos Navarro01.12.2014

Is Very Big the Shale Gas reserve of China.

DON JULIEN01.09.2014

With the advent of surging of shale gas in ChinaI don't have any figures in front of me but I can see in the futurea possible glut in world LNG as North America is building up the ability to ship LNG to Asia, from the West coast and from the South East via the almost nearly completed enlarged panama canal.. With this in mind I would like to an article about world supply of gas, who needs it and who has it for sale now and in the 10 year future.